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20130101
Search Results 0 to 11 of about 12 (some duplicates have been removed)
of the day in a crisis and if barack obama-- who's the only man that can stop a massive tax increase on january 1-- wants to do that, there's nothing house republicans can do to stop it. >> warner: with but explain why they were -- i mean, was it just that any deal that raised taxes period -- no compromise was worth that. >> it's hard to compromise when there's not two sets of ideas on the table. the senate democrats have never passed a budget resolution so how do you split the difference? what we'd like the see, the only rational solution at this end of the game is do extend the current rates for another year like was done in 2010 and let's go through regular order. let's actually write a tax bill out of the ways and means committee. let's have the senate democrats debate that. let's go through the normal budget process, pass a budget resolution by april 15 because the only way you'll get to the real issues which are tax reform and real entitlement reform, that has to be done through regular order. it's not going to be done in a back room at the end of this year. >> warner: that's w
, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making more than that amount, rates would rise from the current 35% to 39.6%. the agreement would also raise the estate tax. in addition, unemployment benefits would be extended for one year. otherwise some 2 million americans face the end of their benefits beginning in january. on the senate floor shortly before midafternoon, minority leader mcconnell confirmed that the stalemate on taxes appeared to be over. >> i can report that we've reached an agreement on all of the tax, the tax issues. we are very, very close. as the president just said, the most important piece, the piece that has to be done now is preventing the tax hikes. >> reporter: there was no a gre
before the fiscal cliff hits on new year's day and with it, more than $600 million in tax hikes and spending cuts. in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several pa
Search Results 0 to 11 of about 12 (some duplicates have been removed)